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  #13  
Old 03-28-2016, 10:56 AM
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Re: Lease return questions

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Originally Posted by Jim_in_PA View Post
I worked with a leasing company years ago (associated business to the one I owned at the time)...and we leased many vehicles, despite that entity being focused a lot on the medical imaging market. Customer picked out what they wanted; leasing company acquired the vehicle to spec and then wrote the lease. Drop off was at the leasing company who then had to dispose of the vehicle.

The vehicle manufacturer doesn't really care who is "buying" the car...
Interesting, so who did the customer made payments to? The leasing company or the car manufacturers bank?

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  #14  
Old 03-28-2016, 11:16 AM
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Re: Lease return questions

My payments aren't to Chrysler or Ally I pay another bank.


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  #15  
Old 03-28-2016, 01:08 PM
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Re: Lease return questions

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My payments aren't to Chrysler or Ally I pay another bank.


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So you used a Leasing company not a broker correct? Jim you were right, I didn't realize these companies existed in NYC, just knew about the brokers.
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Old 03-28-2016, 01:23 PM
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Re: Lease return questions

Correct Plaza Auto Leasing in Brooklyn


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  #17  
Old 03-28-2016, 02:50 PM
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Re: Lease return questions

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Originally Posted by rszwestko View Post
Interesting, so who did the customer made payments to? The leasing company or the car manufacturers bank?
The leasing company. They held the title for the vehicle.
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  #18  
Old 03-28-2016, 03:28 PM
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Re: Lease return questions

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Originally Posted by striper405 View Post
Correct Plaza Auto Leasing in Brooklyn


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Definitely give them a call regarding the procedure, if they are the LIEN holder then the dealership has nothing to do with this lease except warranty work. Post up the details, I am very curious what kind of lease-end policy they have if you decide not to lease from them again.


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  #19  
Old 03-28-2016, 07:43 PM
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Re: Lease return questions

So it's a Fusion Auto lease, I can return the truck to either a dealer or a Fusion Auto lease vehicle return center. 1 in Happauge Long Island or Manville NJ. $400 to dispose of the lease when it is up.


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  #20  
Old 03-28-2016, 09:48 PM
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Re: Lease return questions

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Originally Posted by striper405 View Post
So it's a Fusion Auto lease, I can return the truck to either a dealer or a Fusion Auto lease vehicle return center. 1 in Happauge Long Island or Manville NJ. $400 to dispose of the lease when it is up.


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Most likely the lease company will send an independent appraiser to access the vehicle if you return to a dealership. I strongly recommend that you take tons of pictures, panel by panel. This way they don't try to blame you for any damage that happens while not in your possession.
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Old 03-29-2016, 09:01 AM
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Re: Lease return questions

I agree with Steeler. Photos are your friend...
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  #22  
Old 03-29-2016, 10:32 AM
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Re: Lease return questions

Thanks for the advice def will do that when the time comes. Knock on wood so far nothing besides a quarter sized dent in the passenger front wheel arch.


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  #23  
Old 04-01-2016, 03:57 PM
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Re: Lease return questions

Different banks look at damage differently. When I and my family members leased through Honda and Acura they gave a $1500 damage waiver and didn't really care about the minor damage.

To clarify for out of state people - here in NY we have leasing brokers. They act as the middle man between the buyer and the dealer - or several dealers. Most of the time the prices they offer beat the dealer (from what my friends who are in the business tell me - that's because they get a volume discount from the dealers, they also have smaller overhead). The lease is still done through a bank - typically the manufacturer, however, they usually offer other banks too to decrease the monthly price.

As for getting out early - you can treat a lease the same way as a finance. If the value of the car is higher than what you owe on it, you can find a dealer or a leasing company to buy it out for you. I recently did this for my dad on his '15 Honda Pilot. Got him out of the lease 11 months in and got him a mini cooper that he's wanted for a long time.
You can also make the remaining payments and the lease will be terminated.
If you were to lease through Chrysler financial then you would need to call around the local dealers to see who would take it. As far as I know, the dealer where you get the car is obligated to take it from you.

OP, feel free to contact me when you're closer to getting out of the lease - I'll connect you to my buddy, who is a partner at a leasing company.
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  #24  
Old 04-17-2016, 11:41 AM
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Re: Lease return questions

Since you're in NY, stay away from Smith Haven - had nothing but problems with them when I leased my 2013. I had to threaten them with legal action and a complaint to the BBB, after which all open items were miraculously taken care of in 24 hours.

With regards to the lease return, my lease was through Ally and I got the typical response from my local Jeep dealers, "we don't have room on the lot". I returned my lease to a Chevy dealer 5 minutes from my house without issue, I was in and out within 15 minutes.




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